Ratings upgrade for Palm Beach Gardens

The rating on the city’s $111,589 in general obligations bonds went to ‘AAA,’ from ‘AA+.’

The $2.8 million in public improvement refunding bonds, series 2011A, went to ‘AA+’ from ‘AA.’

The $8.2 million in taxable public improvement refunding bonds, series 2011B, also went to ‘AA+’ from ‘AA.’

“It’s a good report card, as far as how the city manages its tax dollars,” City Manager Ron Ferris said Wednesday. “We take a lot of pride in the way we manage our finances. This is a strong indication that we’re doing a good job and it shows the residents of the city that we have the potential for a good financial future as well.”